LENZ Therapeutics, Inc. (NASDAQ:LENZ) Receives Average Recommendation of “Buy” from Brokerages

LENZ Therapeutics, Inc. (NASDAQ:LENZ) has been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $35.40.

A number of brokerages have recently issued reports on LENZ. Raymond James initiated coverage on LENZ Therapeutics in a report on Friday, September 27th. They set an “outperform” rating and a $37.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and issued a $36.00 price objective on shares of LENZ Therapeutics in a report on Thursday, August 15th. William Blair raised LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, HC Wainwright assumed coverage on shares of LENZ Therapeutics in a research note on Monday, August 12th. They issued a “buy” rating and a $38.00 price target on the stock.

Institutional Investors Weigh In On LENZ Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of LENZ. American International Group Inc. acquired a new position in shares of LENZ Therapeutics in the 1st quarter valued at approximately $44,000. SG Americas Securities LLC acquired a new position in LENZ Therapeutics during the third quarter valued at approximately $107,000. Marquette Asset Management LLC bought a new stake in LENZ Therapeutics during the first quarter worth $131,000. Squarepoint Ops LLC acquired a new stake in shares of LENZ Therapeutics in the 2nd quarter valued at $181,000. Finally, BNP Paribas Financial Markets bought a new position in shares of LENZ Therapeutics in the 1st quarter valued at $362,000. Institutional investors own 54.32% of the company’s stock.

LENZ Therapeutics Trading Up 3.6 %

LENZ Therapeutics stock opened at $27.93 on Friday. The stock has a 50-day simple moving average of $24.03 and a 200 day simple moving average of $20.71. LENZ Therapeutics has a 52 week low of $14.07 and a 52 week high of $31.00.

LENZ Therapeutics (NASDAQ:LENZ) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.09. On average, sell-side analysts anticipate that LENZ Therapeutics will post -3.15 earnings per share for the current year.

About LENZ Therapeutics

LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. Its product candidates include LNZ100 and LNZ101 which are in Phase III clinical trials for the treatment of presbyopia. The company is headquartered in Del Mar, California.